Investors / United States / Reference Capital
Reference Capital
Venture capital · Portland, OR, United States · North America
Reference Capital Management is a venture capital firm founded in 2006 that invests in early stage companies. It serves as General Partner for the Sustainability Investment Funds (SIF), which back companies whose strategies use materials, employees, and community assets effectively.
Invests inIndustrial & ManufacturingHealthcare & Biotech
In its own wordssustainabilityearly stagenorthwestenvironmentventure capital
Your fit with Reference Capital
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsReference Capital lists 25 checked portfolio companies on its own site. Its largest themes are Industrial & Manufacturing (29%), Healthcare & Biotech (29%) and Education (14%). 82% of its companies are based in United States. It invests most often alongside Northwest Technology Ventures, Avoro Capital Advisors and Elevate Capital.
No funding round on record names Reference Capital yet, so the figures come from its portfolio page.
Round figures show recent activity, not Reference Capital's whole history. Rounds on record name 0 companies; its own site lists 25. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| Industrial & Manufacturing | 29% | 7% |
| Healthcare & Biotech | 29% | 15% |
| Education | 14% | 7% |
| Consumer | 6% | 3% |
| Climate & Energy | 3% | 1% |
| AI & Machine Learning | 3% | 18% |
| Enterprise Software | 3% | 8% |
| Real Estate & Construction | 3% | 3% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| Northwest Technology Ventures | 2 |
| Avoro Capital Advisors | 1 |
| Elevate Capital | 1 |
| K1 Investment Management | 1 |
| Koa Labs | 1 |
| Launch Alaska | 1 |
| Lumos Capital Group | 1 |
| MIG Capital | 1 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 60th | 25 companies |
| Recent activity | 46th | 0 rounds in 12 months |
| Early stage | 54th | 0% of entries at pre-seed or seed |
| Evidence | 52th | 0% of companies confirmed by a round |
| Sector focus | 48th | 29% in its largest sector |
| Reach | 70th | 4 countries |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers2392%
- No longer answers00%
- Points to another company28%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherAll co-investors or Compare portfolios with Northwest Technology Ventures
Compare Reference Capital head to head
portfolio size, rounds, entry stages, themes and the companies both backThree or more firms at once: portfolio overlap.
Portfolio
25 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| Artielle Immunotherapeutics is a venture-backed company developing novel therapies for neuroinflammatory diseases and advanced cancers | Healthcare & Biotech | Portfolio page | ||
| The company offers programs in Animation, VFX, UI & UX, Web and Graphic Design industry | EducationEnterprise Software | Portfolio page | ||
| Portfolio page | ||||
| Evergreen Technologies provides information technology and consulting services to its clients. | Industrial & ManufacturingHealthcare & Biotech | Portfolio page | ||
| Exploramed is a medical device incubator focused on patient-driven solutions to persistent medical problems. | Healthcare & Biotech | Portfolio page | ||
Industrial & Manufacturing | Portfolio page | |||
| Full Sail Brewing operates a brewery and brew pub, and also offers contract brewing services. | Food & Agriculture | Portfolio page | ||
| GlassPoint uses solar thermal energy to deliver heat to industrial customers | Industrial & ManufacturingSpace & Defense | Portfolio page | ||
| Portfolio page | ||||
| Indow Windows makes and sells window inserts that provide insulation and block drafts, noise, and UV light. | Real Estate & ConstructionConsumer | Portfolio page | ||
| Learning.com prepares K-12 students with future-ready digital skills | EducationEducation | Portfolio page | ||
| Looptworks transforms excess pre and post-consumer textiles into recycled fiber for textile manufacturing | Climate & EnergyConsumer | Portfolio page | ||
| New Energy Corporation generates clean, reliable energy from moving water using hydrokinetic based energy solutions. | Industrial & ManufacturingIndustrial & Manufacturing | Portfolio page | ||
| Northwest Analytics provides manufacturing analytics and SPC software solutions | Industrial & Manufacturing | Portfolio page | ||
| Onboard Dynamics develops and provides natural gas compression systems that minimize methane and other greenhouse gas releases during pipeline operations | EducationEducation | Portfolio page | ||
| Oxis International provides a cryptocurrency wallet for storing, trading, and exchanging various cryptocurrencies. | FintechCrypto & Web3 | Portfolio page | ||
| Paneltech manufactures overlays and other products for various applications, including concrete form and general purpose uses. | Industrial & Manufacturing | Portfolio page | ||
| Radisys provides various products and services for telecommunications and networking solutions. | Healthcare & BiotechIndustrial & Manufacturing | Portfolio page | ||
| Routeware designs solutions for waste, recycling, and heavy-duty fleet operations | Healthcare & BiotechIndustrial & Manufacturing | Portfolio page | ||
| Salix Pharmaceuticals develops and provides treatments for gastrointestinal diseases | Healthcare & Biotech | Portfolio page |
About this data
site last read 5 Nov 2026- Site
- referencecapital.com
- Last read
- 5 Nov 2026
- Watching since
- 6 Nov 2026
- Companies checked
- 25
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
Get Reference Capital's profile as data
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